Fonterra announced a new interim chief executive today. Miles Hurrell will step into the role effective immediately, taking over from Theo Spierings.
The abrupt departure comes after Fonterra announced last week the co-op cut its forecast milk price and after chairman John Wilson stepped aside over health concerns last month.
Agricultural economist Peter Fraser gives his opinion of what's going on with the dairy giant.
Photo: RNZ / Rebekah Parsons-King
